Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-06-15
4 CHICAGO Panic.
The Big Chicago Wheat Clique Com
pleteIy DemoraIized--A Panic En-
sues Causing Several Failures.
Stocks Very Weak Owing to tlIe Coffee
and WheaS Disturbances Of Late.
The Transactions Small,
Cincinnati Operators not Interested In the
Wheat Dsal-OOffee Advances Cent
and half at New York
COMNIERCIAL RESUME.

NEW YORK, June I4-Railway bonds
to-day sold as follows: Fort Worth
and Denver City at 92!; Texas and
Pacific Rios at 7G5; Houston and Texas
Central st 10; Kansas and Texas IS at
So; Missouri, Kansas and Texas IS at 90.
Money 5@G per cent.
Governments steady.
Sterling stesdier.
Silver 95d
Wheat active and nervous
Oil closed 1T G2I
Cotton excited anG lower.
Coffee was again feverish and unset
tied.
A SENSATION IN WHEAT
ChICAGO, ILL, June 1.-THE great
wheat clique is utterly demoralized, and
is said TO have gone broke or tO-day's
sensational drop in prices. Moritz, Re-
senfelG < Co., one Of the clique houses,
said 70 q reporter Of all evening paper
this afternoon; "This wheat CLIQUE
has not kept its en-
gageInents, and we will have
to suspend" Immediately after Secretary
Stone had announced the suspension of
Rosentield & Co, the office Of this firm as
well ~ Of other commission houses who
are supposed to be actilg for the clique
were crowded with brokers anxious to
know what was the situation and whether
the other Clique houses would be forced
to suspend. Rosehneid could not be seen
and his manager, Frank Johnson, said ne
could make no statement beyond The fact
that they had suspended. "Our susDen-
siOn,n said Mr. Johnson, sis due simply
TO the reason that our Cincinnati cliqIes
hava failed 10 keep all their YER
bal and written promises in regard 20
putting up margins, We were assured
oy them last niGht tina money would be
forthcoming tliE morning and 1t intervals
of ten minutes sill this forenoon we have
received kilograms from Cincinnati an
nOunciDg that che money Tor margins
would be- placed 10 our credit here. Uy
to now, however, nothing cas- been re-
ceived from them, and 10 prevent more
serious losses We took the step we did"
An evening paper says 1G,OOO,O 900
bushels Of grain collected here and held
by p mysterious combination will now be
sold out under the ham er.
The losses OF ROseufeId & Co on the
decline are estimated at 100000.
1
NEW YORK, June 1.-THE feeling in
the street among tne Cof-e brokers was
stronger this morning. Cables from
Havre AID Rio note an increase, prices
standing at Hayre cents above New
York quotations and 8 cents above at Rio.
a private Havre cable, dated to-day ST
1880 a. n, gives an advance of two
francs, which is equivalent to 40 points
4 10
to strengthen the feeling On Change. The
ak on the street is of the grand stand of
he old war horse, j J. O'Donoghue, in
staying the tide yesterday, which would
nave otherwise carried widespread disas-
er. O'Donoghue feels confident, and
believes the scene of yesterday will not
)e repeated, Said ne: cat least
me big house was very closely
pushed yesterday, and two others had a
narrow escape, but they are all right tC-
lay. The big one has now S500,0OO in
,ank to its credit, and will meet all de-
hands. | stand behind them, and there
s no danger. All feel that the market is
low in stronger hands. The buyers are
,eginning TO think the bottom is reached
nd sre sending in orders. I have filled
riders for IL, 900 bags this morning in the
egular order Of business. The Rio spec
latOrs, who bOlsteTed up this boom. are
onsidered q shaky lot They have 8 way
f dropping on falling market Specu-
atOrs and brokers from Baltimore and
are l0cking to the street %
ay and a general feeling Of suppressed
excitement rules. The brokers are gath
red together on the streets discussing
ne situation this morning.
A REACTION.
At the first call of the morning an ex-
ted crowd of brokers gathered about
le board. The heavy buyers of yesterday
i'd not notice bly, appear at she front and
lie market was feVerisH and uncertain.
he sales recorded at the first call, how
yer, advanced on an average of l cent.
ne fluctuations were great, and O wide
.nge Of prices appeared. Outside the
filings was q dense crowd, inside the
il was excitement. Cables from Havre
lowing a rise of so points
eadied the market and infused tenn
)rary life into the crowd. A later cable
Continued on Fourth Page.